Tips for first-time home buyers

Buying a home for the first time is an exciting period in a person’s life.
The process of buying a home is rarely
easy, and first-time buyers may feel overwhelmed at times. But there are a few ways to make buying a home more enjoyable than it is nerve-wracking.
• Examine your finances. The first step toward buying a home has nothing
to do with deciding if you prefer a craftsman- or Tudor-style home. Before you even begin your search for a home, carefully examine your finances to determine
how much is coming in and how much is going out of your household each month.
• Be prepared when visiting lenders.
Prospective borrowers can make the home-buying process go smoothly by having all of the necessary documentation
ready when visiting potential lenders.
Many mortgage lenders will want to see some recent pay stubs (from both borrowers if buying with a spouse or partner), a couple years’ worth of W-2s and tax returns, as well as your recent bank statements.
• Secure financing before you begin house hunting. Many first-time home buyers might not realize the benefits of securing financing before they begin
looking for a home. Mortgage preapproval
lets buyers know how much a bank will loan them, meaning they won’t spend time looking at homes they can’t afford.
• Work with a local real estate agent. Real estate agents are an invaluable resource
to home buyers and are especially valuable to those buyers who have never
before purchased a home. Agents can help first-time buyers navigate the often confusing and, at times, disappointing process of buying a home.